04539oam 22011054 450 991096992380332120250426110633.0978661382144797814623881581462388159978145199945714519994539781282448254128244825097814519083671451908369(CKB)3360000000443182(EBL)3014413(SSID)ssj0000942098(PQKBManifestationID)11601439(PQKBTitleCode)TC0000942098(PQKBWorkID)10964409(PQKB)11453495(OCoLC)698585707(MiAaPQ)EBC3014413(IMF)WPIEE2006040(IMF)WPIEA2006040WPIEA2006040(EXLCZ)99336000000044318220020129d2006 uf 0engur|n|---|||||txtccrMacroeconomic Challenges with EU Accession in Southeastern Europe : An Overview /Piritta Sorsa1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (27 p.)IMF Working Papers"February 2006."9781451863000 1451863004 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. STATUS OF EU ACCESSION IN SEE""; ""III. PROGRESS IN ESTABLISHING A MARKET ECONOMY AND REAL CONVERGENCE ""; ""IV. NOMINAL CONVERGENCE�MONETARY AND FISCAL FRAMEWORKS AND STABILIZATION""; ""V. CONCLUSIONS""; ""References""The paper reviews key macroeconomic challenges with EU accession in Southeastern Europe (SEE). Most of the countries in the region are years away from EU accession and need substantial progress to meet the key macroeconomic criteria-the establishment of a functioning market economy and macroeconomic stability. The former calls for further structural reforms. While macroeconomic stability is essential throughout the EU accession process, the importance of specific outcomes increases in the last stage of accession, when countries face decisions to apply for entry into the ERM2 and the Maastricht criteria (Bulgaria and Romania). The main challenges with establishing macroeconomic stability in other countries are related to sustainability of their monetary frameworks, risks from rapid financial deepening, and further fiscal consolidation to support growth and stabilization. Most of the SEE countries have room to lower public spending and increase the share of pro-growth spending.IMF Working Papers; Working Paper ;No. 2006/040Monetary policyEuropeCompetitionimfDeflationimfExchange rate anchorimfFinanceimfFinance: GeneralimfFiscal PolicyimfFiscal policyimfGeneral Financial Markets: General (includes Measurement and Data)imfInflationimfInstitutions and the MacroeconomyimfMacroeconomicsimfMonetary economicsimfMonetary PolicyimfMonetary policyimfMoney and Monetary PolicyimfPrice LevelimfPricesimfPublic FinanceimfStructural reformsimfEuropeEconomic integrationRomaniaimfMonetary policyCompetitionDeflationExchange rate anchorFinanceFinance: GeneralFiscal PolicyFiscal policyGeneral Financial Markets: General (includes Measurement and Data)InflationInstitutions and the MacroeconomyMacroeconomicsMonetary economicsMonetary PolicyMonetary policyMoney and Monetary PolicyPrice LevelPricesPublic FinanceStructural reformsSorsa Piritta1815785DcWaIMFBOOK9910969923803321Macroeconomic Challenges with EU Accession in Southeastern Europe4371299UNINA